Lanka Hospitals adjudged 1st runner up at CIMA Business Case Awards 2013

Lanka Hospitals today announced that it was adjudged 1st runner up at the CIMA Business Case Awards 2013, for their case study on ‘A Thriving Business Model in the State Sector - the Lanka Hospitals Story.’

Global warming and Warsaw consensus

UNFCC –COP 19   from 11 -22 in Warsaw Poland is attended by representatives of nearly 200 governments and United Nations Secretary General Ban Ki Moon addressed the plenary sessions   on......

Is SL utilizing ocean resources for economic take-off?

Being an island nation, Sri Lanka is blessed with enormous ocean resources, and related opportunities, that can be utilized for the country s economic development.  There is a wide array of ocean resources, which include both biological and non-biological components.

Sampath Bank Rs.5bn debt issue oversubscribed

Samapth Bank PLC yesterday said its Rs.5 billion debenture issue was oversubscribed and the issue would close at 4.30 p.m.

New challenges ahead in run-up to ‘middle income’ status: Tax consultant

Budget 2014 is widely deemed to be progressive and consistent with previous targets of reaching middle-income status by 2016, however Sri Lankans must now gear to face new challenges such as current, fiscal and democratic deficits faced by the country, according to Gajma Tax Consultant Senior Partner, N. R. Gajendran.

‘Cess’ - End the deception and build ‘street lights’

In Sri Lanka, ‘Cess’ is the name given to a special tax imposed on sales, where the revenue is earmarked for a specific fund with a particular economic purpose. But the government has stymied export promotion and local value addition by ‘stealing’ the Cess. Budget 2014 is poised to further the malpractice.

How to be really innovative in the hospitality and service business?

Oh no, not another article on innovation! Haven’t we heard enough from everyone who claims to be someone, when on stage? Please also don’t feed us another dose of anecdotes extolling how Southwest Airlines, Ritz Carlton or Walt Disney excel at it! No, I won’t.

Budget 2014 focuses on sustaining economic growth

The main focus of the 2014 budget has been to maintain the growth momentum and stability of the economy as requested by the majority of the public, Finance and Planning Ministry Deputy Secretary to Treasury Dr. S. Batagoda said. 

Dunamis to invest Rs.200mn in leather factory

Dunamis Capital PLC, an investment firm connected to the Janashakthi group, said it plans to invest Rs.200 million in a fully-owned subsidiary, namely Premier Synthetic Leather Manufacturers (Pvt.) Ltd, a Board of Investment (BoI) company, manufacturing leather and related products for the local market.

Traveller’s cheques no more

The Sri Lanka Banks’ Association (SLBA) yesterday said the issuance of traveller’s cheques has been stopped with immediate effect.

Need for transparency over budget fundamentals

An appeal to the executive, business and academia, who saw light at the end of the tunnel.

SriLankan, Mihin lose Rs. 16bn in first half

The two state-owned airlines, which share the same Chairman and CEO has reported an operating loss over Rs.16.4 billion during the first half of the financial year 2013/14 despite an increase in the passenger load factor, a Finance Ministry report showed.

World’s largest modular carpet company mulls Lankan entry

Interface Inc., the world’s largest marker of modular carpets for commercial and residential applications may enter Sri Lanka with its plans to start a production facility in India, a top Interface official said.

NBT confusion for banks

The 2 percent Nation Building Tax (NBT) extended to banks and financial institutions in the 2014 budget have created some confusion as no explanation has been given so far as to whether the said tax would be applied to the gross turnover or the profits.

Forbes writes about Dhammik’s Master Plan

Dhammika Perera didn’t become one of Sri Lanka’s richest people by luck. It was actually by design. Back in 1999, when he was 32, he developed a 20-year plan for his fledgling businesses with the help of a mentor.

Lifestyle entrepreneurship – Giving women the balance needed between home and office

They are no longer manning desks in plush offices but are in front of computers located in kitchens, store spaces, living rooms and bedrooms. They work hard but also have time to spend with the children and take care of family chores.

Corporate tax holiday for new IPOs extended

In a bid to attract more companies to the Colombo Stock Exchange (CSE), the Budget 2014 extended the 3-year 50 percent tax holiday from 2014 onwards for new listings.

CB says 8 finance companies distressed

Central Bank of Sri Lanka yesterday said there are eight distressed finance companies in the country under its off-site and on-site supervision.

Mobitel introduces ‘mCash’; the most quick and convenient method to carry out monetary transactions

Living by its credo of ‘We Care. Always.’ the National Mobile Service Provider, Sri Lanka Telecom Mobitel has introduced another life-style convenient service to its customers called ‘mCash’.

SLPA leases H’tota LPG tank facility to Litro

The Sri Lanka Ports Authority (SLPA) and Litro Gas Terminal Lanka (Pvt.) Limited yesterday signed a lease agreement for the liquid petroleum gas (LPG) facility of the tank farm at Magam Ruhunupura Mahinda Rajapaksa Port (MRMRP) for a period of 10 years.

How to be really innovative in hospitality and service business?

A premier accounting institute in Sri Lanka held its 34th National conference recently. In the weeks ahead and during, amidst wide publicity, the two day event, screamed: ‘Innovation’.

Bangladesh’s efforts on capital market reforms

Bangladesh has had its share of stock market booms and busts. Following a bull run during most of 2010, the Dhaka Stock Exchange (DSE) crashed in early December 2010 and by March 2011 the index had fallen by half from its all-time high.

Dual citizenship: To offer or not to offer

Having dual citizenship status is literally having the best of both worlds. Many Sri Lankans who hold dual citizenship had a sense of superiority. They can enjoy all the benefits and facilities enjoyed by any Sri Lankan and also entitled to all the benefits and facilities of their adopted country.

South Asia can definitely reinvent itself as a ‘region on the move’: Chaudhary

Following is a speech delivered by Chaudhary Group, Nepal Chairman Binod K. Chaudhary at Commonwealth Business Forum 2013 on ‘The Commonwealth, Indian Ocean, Pacific at SAARC: Building New Partnerships.

LB Finance Rs.2bn debenture snapped up

LB Finance PLC, a licensed finance company yesterday said its Rs.2 billion unsecured debenture issue was oversubscribed the opening day.

DPL blames authorities for prolonged crisis

Dipped Products PLC (DPL), a top glove exporter linked with the contentious water contamination issue in Rathupaswala yesterday accused authorities including the National Water Supply and Drainage Board and the Health Ministry, for failing to clear the misconception among the villagers concerning their non-involvement in water pollution that has eventually led to a halt in company operations.

October tourist arrivals up 28%

Tourist arrivals to the country during the month of October rose 27.9 percent from a year ago to 102, 805. The cumulative arrivals during January-October rose 16.8 percent Year-on-Year to 904, 015.

SL could become mini Singapore

Despite Sri Lanka having a rich human resource, the country is yet to harness its full potential because of its low presence in providing professional services to other international markets, according to a top Standard Chartered Bank (StanChart) executive, who operates in the Asian region.

DFCC makes Fiji entry

The DFCC group has been selected as a consultant in the transformation of Home Finance Company (HFC) of Fiji, a state-owned financial institution with a limited offering of products and services.

Plantations should prepare to meet climatic change challenges

Global warming and climate change are aspects of our environment that cannot be easily or quickly discounted. We have seemingly negatively effected our environment by a cycle of harmful processes that now seem to be feeding upon themselves to exponentially increase the damage to our ecosystem.